The SME lender also said its deposits rose beyond £500m for the first time.
Recognise Bank said it wanted to expand and work with even more SMEs and has opened a new office in Milton Keynes to support its ambitions.
The new office is nearer to its London head office and is expected to enhance collaboration, leadership oversight and operational effectiveness.
Earlier this year, the lender hired four lending managers to broaden its reach across England, Wales and mainland Scotland.
Simon Bateman (pictured), CEO of Recognise Bank, said: “Our growth and performance make this the right time to ensure our structure supports what’s next. Acting from a position of strength allows us to prepare for the future, not react to challenges, and our new Milton Keynes office will help strengthen decision-making and overall business performance.
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“This is an important step on our journey to build a stronger, more connected Recognise Bank. One that’s fit for the next stage of our journey, while staying true to the values and service our customers trust.”
